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Advanced Sales Techniques for the Small Commercial Market

Advanced Sales Techniques for the Small Commercial Market. By Steve Anderson The Anderson Network, Inc. Can You Make Money?. Compensation Job Design Duplication of effort Right number of companies Right number of people. Expectations. Sell more insurance Provide better service

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Advanced Sales Techniques for the Small Commercial Market

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  1. Advanced Sales Techniques for the Small Commercial Market By Steve AndersonThe Anderson Network, Inc.

  2. Can You Make Money? • Compensation • Job Design • Duplication of effort • Right number of companies • Right number of people

  3. Expectations • Sell more insurance • Provide better service • Become more efficient • Survive/thrive “Unlike Aladdin’s Lamp, technology does not grant three wishes to those who massage it. Technology is nothing more than the messenger. The industry must rethink the message.” Rick Morgan

  4. Reasons for Past Failure • Principals and producers not involved • Internal rather than external focus • Technology didn’t deliver • Cost vs. benefit • Resistance to change - failure to implement “Automation does get some jobs done faster. But fundamentally the same jobs are being done, and that means no fundamental improvements in performance.” Michael Hammer & James Champy Re-engineering the Corporation

  5. Moore’s Law “The number of transistors per square inch of processor doubles every 18 months while the cost remains constant or drops.” Gordon Moore, Founder - Intel Corporation

  6. Metcalf’s Law “The usefulness of a network increases by the square of the number of connections.” Bob Metcalf, Inventor of Ethernet

  7. Small Accounts Today • Step Child • Undesirable necessity • Problem accounts • Weaker staff • No Producer involvement

  8. Why Unprofitable? • Compensation • Job design • Duplication of effort • Too many companies • Too many people

  9. Typical Scenarios • Separate unit • Part of large commercial • Combined with personal lines • Specialty & Programs • Agency’s main focus

  10. The Potential • New small businesses • Sell anywhere • Can become large • Provide needed expertise

  11. Complete Automation Key • Website quoting • Proposal, uploading • Non website quoting • Integrated, applications, proposal • Fax or e-mail • Download policy detail

  12. Complete Automation Key • Log all activities • Use system follow up • Store fax & e-mail • Use standard letters

  13. Sales Management • Sales plan • Frequent follow-up • CSR = Lead generators, cross-sellers

  14. Finding Producers • Agency staff & families • Other industries • Recent college graduates • Retail or telephone sales • Professional & civic networks

  15. Think like your customer • Wear customer-colored glasses. • Ask yourself: • What would my customer do? • What does my customer think? • How does my customer feel? • What does want customer want

  16. Successful Web Sales • Niche market • Large geographic spread • Easy rating • Easily described • Easy payment

  17. Payment Methods • Direct Bill • Credit Cards • E-Check

  18. Check Drafts VersaCheck 2004 Gold www.versacheck.com

  19. Back to the Future • Before Automation - Customization • Early Automation and Mass Marketing • Today’s Technology and Mass Customization • The Internet • Standardization vs. customization • Trusted relationships

  20. One-To-One Marketing • Focus on Individual customers • Customized products and services • Market knowledge from customer interaction

  21. Success? • Not more customersbut a larger share of each customer

  22. Four Basic Strategies • Identify customers • Customers disconnected • Convergence • Differentiate customers based on their lifetime value • Tiers of customer types • Actual/Strategic value = Share of customer

  23. Four Basic Strategies Cont. • Interact - gather new information about their needs and preferences • Learning relationships • Customize products and services offered to them based on their input • Reward customers for collaborating with you by tailoring products and services or providing information

  24. Steps to Success • Technology is strategic advantage • Use technology to support marketing and sales • Don’t let technology overshadow sales • Create “systems” • Understand customer wants and needs

  25. Successful Selling • Define Selling Process • Create a sales system • Work the system

  26. Why a system? • Persistence Works • Producers Don’t Follow Through

  27. What will a “Marketing System” do for you? • “Clone” Your Best Producers • Take the “grunt” work off the producers • Create persistence • Consistency on how clients and prospects are handled

  28. A Successful Marketing Systems must: • Have a formal marketing plan • Have centralized control • Be flexible • Be comprehensive • Accommodate individual producer styles

  29. What system should you use? • Agency management system • Standalone marketing software

  30. Contact Management vs. Automated Marketing • ACT • Goldmine (www.frontrange.com) • Automated Processes • MAPS (www.martechsouth.com) • Automated campaign management

  31. Internet based systems • ASP Sales Source (www.aspsalesource.com) • salesforce.com • FreeCRM.com • Outlook Business Contact Manager • bCentral (Microsoft)

  32. Are people buying online? • Personal Lines • Commercial Lines • Other Products • Should you sell online?

  33. Sell other products and services • Private labeling • Other insurance products • Non insurance products and services • Affiliate programs

  34. Finding Prospect Information • Internet resources • Thinkdirectmarketing.com • InfoUSA.com • Thomas Register (www.thomasregister.com) • Hoovers.com • Google (www.google.com) • SEC – Edgar Database (www.sec.gov) • State & local governments

  35. Internet Services • MarketResearch.com • Flood Marketing (www.nfri.com) • MatureHealthCenter.com • MyPublisher.com • HowStuffWorks.com • HalfaPayCheck.com • SurveyWriter.com

  36. AddressGrabber www.egrabber.com

  37. What to do now once you have them • Adding to your marketing system • External Mail Merge • Importing prospect information • Bulk email programs

  38. Contact options • First Class Mail • www.stamps.com • Third Class Bulk Mail • Fax • www.zairmail.com • USA-Direct.com

  39. Effective Email marketing • Keep it brief • Provide value • Easy to scan • Format well • Include links • Don’t put ads first • Use time sensitive material • Create good headlines

  40. Email Systems • Gammadyne • Group Mail Pro • Mailloop.com

  41. Legislation • Federal • Do Not Call • CAN-SPAM Act • State

  42. CAN-SPAM Act • Correct e-mail header information • Accurate subject line • Working return e-mail address • Unsubscribe process • Postal address included in body

  43. Using other Web sites • Affiliate programs • Amazon • InsureHelp.com • Link share • Banner ads

  44. Using your Web site • Ask permission • Provide information

  45. Finding new markets • AgentSecure.com • MarketScout.com • SuperiorAccess.com • ProgramBusiness.com • Youzoom.com • InsuranceNoodle.com

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